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NAI also announced that total revenues, including revenues from the "As WeChange" business, for the fourth quarter of its fiscal year ended June 30,2008 were approximately $25.2 million, an increase of $3.3 million or 15.1%from $21.9 million for the third quarter ended March 31, 2008 and an increaseof $1.1 million or 4.6% from $24.1 million for the fourth quarter of thefiscal year ended June 30, 2007.
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Private label contract manufacturing revenues were approximately $20.7million in the fourth quarter of fiscal 2008 compared to $18.0 million in thethird quarter of fiscal 2008, an increase of $2.7 million or 15.0%. Comparedto the fourth quarter of fiscal 2007 private label contract manufacturingrevenues increased by approximately $600,000 or 3.0% from $20.1 million.
President Randell Weaver stated, "We are pleased to complete the sale ofour "As We Change" catalog and internet business for $2.0 million in cash.The sale of this business should allow us to better maintain focus on our corebusiness, private label contract manufacturing, and will provide liquiditythat should allow us to make additional investments in our core business whilemaintaining our strong balance sheet. We have taken steps to significantlyreduce operating expenses in our private label contract manufacturing businessas well as our remaining branded products businesses, "Real HealthLaboratories" and "Dr. Cherry Pathway to Healing(R)."
Chairman and Chief Executive Officer Mark LeDoux added, "We are extremelypleased with the growth in our fourth quarter revenues, particularly thecontract manufacturing revenues. We believe our commitment to GoodManufacturing Practices has paid dividends as we have seen revenues from newcustomers grow. We are also pleased we have been able to attract top tiercustomers and potential customers who recognize the value in our state of theart facilities and our commitment to quality manufacturing."
NAI, headquartered in San Marcos, California, is a leading formulator,manufacturer and marketer of nutritional supplements and provides strategicpartnering services to its customers. Our comprehensive partnership approachoffers a wide range of innovative nutritional products and services to ourclients including: scientific research, clinical studies, proprietaryingredients, customer-specific nutritional product formulation, producttesting and evaluation, marketing management and support, packaging anddelivery system design, regulatory review and international productregistration assistance. For more information about NAI, please see ourwebsite at http://www.nai-online.com.
This press release contains forward-looking statements within the meaningof Section 21E of the Securities Exchange Act of 1934 that are not historicalfacts and information. These statements represent our intentions,expectations and beliefs concerning future events, including, among otherthings, our expectations and beliefs with respect to future financial andoperating results, including the amount of our future revenue and profits andour future financial condition, our ability to implement our strategic plans,to expand and invest in our core business, to reduce operating expenses, andto develop, maintain or increase sales to new and existing customers. We wishto caution readers these statements involve risks and uncertainties that couldcause actual results and outcomes for future periods to differ materially fromany forward-looking statement or views expressed herein. NAI's financialperformanc
